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<br />If Borrower pats Funds to Lender_ the Funds shall he };old in an institution the deposits or accounts of which are
<br />insured or guaranteed by a Federal or state agency tincluding Lender if Lender is such an institution). Lender shali~ipply
<br />[he Funds to pay said taxes. assessments, insurance premiums and ground rents. Lender ma}• nut charge fbr so holding
<br />and applying the Funds, analyzing said account er verifying and compiling said assessments and bills. unless Lender.
<br />pays Borrower interest cn the Funds and applicable law permits Lender to make such a charge. Borrower and Lender
<br />may agree in writing at the time oY execution of this Deed of Trust that tnzerest on the Funds shall be paid to Borrower,
<br />j~ ~ and unless such agreement is made or applicable law requires such interest to be pard. Lender shelf not be required
<br />i „~ to pay Borrower any interest or earnings oh the. Funds. Lender shall give to Borrower, without charge, an annual
<br />C'' accounting of the Funds. shooing credits and debits to the Funds and the purpose for which each debit to the Funds was
<br />made. The Funds are pledged as additional security for the sums secured by this Deed ofTrust.
<br />If the amount of the Funds held by Lender; together with the future monthly installments of Funds payable prior to
<br />the due dates of taxes., assessments, insurance premiums and ground rents, shall exceed the amount regttit-ed Lo pay said
<br />N taxes, assessmenu, insurance premiums and ground rents as they Fall due. such excess shall. be, at Borrower's option,
<br />(~ either promptly repaid to Borrower or credited to Borrower on monthly installments of Funds. if the amount ~f the
<br />Funds held by Lender shall not be sufficient to gay taxes, assessments, insurance premiums and ground rents as the} i'all
<br />due, Borrower shall pay to Lender env amount necessary to make up the dericiencp• in one or mnrepa}unents as I~nder
<br />may require.
<br />Upon payment in full of alt sums secured by this Deed of Trust, Lender shall promptly refund to Borrower any
<br />Funds held by Lender If under paragraph 1- hereof the Prapetty is sold or the Propem is otherwise acquired by
<br />Lender, Lender shall apply, no later than immediatclp prior to the sale of the Propene or its acquisition by Lender., env
<br />Funds held by Leader at the lime of application as a credit against the sums secured b}' this peed of Tntst:
<br />3. Application of Payments. Unless applicable law provides otherwise, :ill. payments received by (xnder under
<br />the Note and paragraphs 1 and 2 hereof shall be applied by Lender fiat in pa}moot o£ amounts payable to Lender by
<br />Borrowerunder paragraph 2 hereof, then to interest pay~atrle on the Note. and then to the principal of;he Note.
<br />~. Prior Mortgages and Deeds of Trust; Charges; Liens. Borrower shall perform tilt of Borrower's obligationn
<br />under any mortgage.. decd of trust or other security agreement with a lien which has priority over this Decd cif: "Cntst.
<br />including Borrower's covenants io make payments when due. Borrower shall: pay or cause to be paid: all ta~cs.
<br />assessments and other charges; fines and impusirions attrbutabfeto the Property which may attain a pnor;t}!over this'
<br />Deed of Trust, and leasehold. patiznents or ground rents, if any.
<br />5. Hazard Insurance. BorrowershalL keepthe improvements now existing or hereafrer erected on the Properh~
<br />insured against loss by tire, hazards included within the term "extended coverage", and sttcit otherhazards as Lender
<br />may require and. in such amounts and for such periods as Lender may require
<br />The insurance carrier providing the insurance shailbe chosen by Borrower suh,ject tc approval h.' Lender; proL idcd.
<br />that such appraval shall not he unreasonably withheld. Ail insurance policies and renewals thereon shall he in a farm
<br />acceptable to Lender and shall include a standard mortgageclause in favor of and in a form acceptable tai Lender.
<br />Lender shall Kaye the right to hold We policies and renewals thereof subject to the terms of any mortage, deed of trust
<br />or other security agreement with s lien which has priority rn•cr this Deed of "Crust.
<br />In the event of loss. Borrower shall ~rve prompt notice to the insurance carrier andLender. (.under mac make proof
<br />of ]qss if notmade promptly be Borrower.
<br />If the Propert}• isabxndoned br• Borrower, or if Borrowerdails to respond to Lender ..ithin 30 days fmm the date
<br />notice is mailed by Lender co Borrower that the insurance career offers to settle a claim for insurance benefits, [xndur is
<br />uutherized to collect and apply the insurance proceeds at Lenders option <ither Lo restoration or .repair of [h~~
<br />Property or to the sums secured by this Deed of Trust:
<br />b. Preservation and Maintenance of Property: Leaseholds; Condominiums: Planned Unit Developments. Btir-
<br />rowershall keep the Property in good repair and shall nor commitwasteor permit impairment or deterioration of Che
<br />Property and shall comply with the precisions of any lease ifth'ts Deed irfTrust is on a leasehold: If this l)eeci of Trust is
<br />on a uni[ in a condominium or a planned unit developman4 Boaower shall. perform all of Borrower's obligations under
<br />thedeclaration pr covenants creating or governing the condominium or plennedunit development. the by-laws and
<br />regulations ofthe condominium or planned unit development. and constituent'dbcuments.
<br />Z Protection of Lender's Security. If Borrower fails to perform. the covenants and agreements contained in this
<br />Deed' of Trust, or if any action or proceeding is commenced which materially affects Lender's interest. in the Property..
<br />then Lender, at Lender's option, upon notice to Borrorwer: may make such appearances. disburse such sums, including
<br />reasonable attorneys' fees. and take such action as is necessary to protect Lender's interest: if Lender required mortgage
<br />insurance as a condition of making theloan secured by this Deed of"irust,'Borrower shall pay the premiums rcyuimd to
<br />maintain such insurance in effect until such time as the requiremer., for such insurance terminates in accordance with
<br />Borrower's and. Lender's wrcitten agreement or applicable law..
<br />Am• amounts disbursed: by Lender pursuant to-this paragraph '. with interest thereon. at the Note rate. shall
<br />become additional indebtedness of Bonower secured by this Deed of Trust. Unless Borrower and. Lenderagree to
<br />other terms of payment, such amounu shall be payable .upon. notice from Lender to Borrower requesting paymen[
<br />thereof. Nothing contained inthis paragraph 7 shall require Lender to incur any expense or take any acticin hereunder.
<br />8. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property.
<br />gmvided that Lender shall give Borrower notice prior ,to any such inspection specifying reasonable cause therefor
<br />related to Lender's interest in the Propeny.
<br />9. Condemnation. The proceeds of any award or. claim for damages. direct or consequential. in connection with
<br />any condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation: are
<br />hereby. assigned and shall be paid to Lender, subject to the terms of am' mortgage. deed of trust or oihersecurityagrr•.e-
<br />ment°with alien which has priority over this Deed. of Trust.
<br />l0. Borrower P3oc Released; Forbearance By Lender .Not a Waives F_xtension of the time for payment or
<br />modification of amortization of the sums secured b}•this Deed of Trust granted by Lender to any successor. in interest of
<br />Bot•trower shalGnot operate to release; in any manner, the liability of the original Borrower and Borrower's successors in
<br />interest. Lender shall not be required io commence proceedings against such successor or refuse to extend time forpa}•-
<br />L mentor otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made bg the
<br />original Borrower and Borrower's successors in inr-crest. any forbearance by Lender in exercising any right or remedy
<br />hereunder, or otherwise afforded byaoplicable law, shall nofbe a waiver ofor preclude thz exercise of any such right or
<br />remedy.
<br />ll. Successors. and Assigns Bonnd; Joint and Several Liability; Co-signers. 71te covenants anal agceement.a
<br />hereincontained shall bind, and the rights hereunder shall inure [o, 2herespecLive successors and assi,ans of (,under and
<br />Borrower, subject to the provisions of paragraph !6 hereof. A 11 covenants and agreements of Borrower sh,i!1 he joint and
<br />several- Any Borrower who co-signs this Deed ofTrusf, but does oat execute the Notc. t~) rs ::o-;<igrring thi> Ueet! ref"hrust
<br />onfiy to grant and convey that Borrow~e r'c interest in Che Property to Tr ustcx under the [erns of rhrs Decd of'I'rtnt, tb1 is
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